Nigeria’s Ministry of Finance raises N100bn housing funds from private investors

The Ministry of Finance Incorporated Real Estate Investment Fund, MREIF, has announced that it has raised N100 billion from private investors in its fully subscribed Series 2 issuance to boost Nigeria’s housing sector development.

Executive Director (Coordinator) at MREIF, Sani Yakubu, disclosed this in a statement on Thursday.

He noted that the latest issuance forms part of MREIF’s N250 billion pilot fundraising initiative, aimed at bridging the country’s housing finance gap.

According to him, the fund holds an AAA rating from Agusto & Co. and an AA rating from Global Credit Rating, GCR, positioning it as a credible and market-driven investment platform.

Reacting to the development, Nigeria’s Minister of Finance, Wale Edun, described the full subscription of the Series 2 offer as a reflection of the growing demand for structured housing finance solutions and investor confidence in MREIF’s model.

“The successful close of this pilot phase marks the beginning of a long-overdue transformation of Nigeria’s housing sector,” Edun said.

Nigeria’s Ministry of Finance raises N100bn housing funds from private investors